Cambodian Prime Minister Hun Manet blames foreign media, specifically Al Jazeera, for the decline of the development boom in Sihanoukville. The coastal resort now has hundreds of derelict buildings. The government plans to address the issue by offering special visas and tax incentives for investors to purchase and fix the buildings worth over $1 million. The Minister of Finance states that $1.1 billion is needed to address the ghost building problem. Critics argue that the new incentives may attract more casinos and increase crime, drugs, and human trafficking. Corruption and a lack of legal systems discourage Western investors. The International Monetary Fund predicts Cambodia’s GDP will grow 5.3% in 2023.
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